Finance Committee Update 2020 CoDependents Service Conference Finance

Finance Committee Update 2020 Co-Dependent's Service Conference

Finance Committee The Co. DA Finance Committee works with the Co. DA Treasurer and Board to provide financial oversight, analysis, and advice to the Fellowship of Co. DA with respect to: • Prudent budgeting and investing • Financial stability • Monetary resources of the Co. DA Fellowship. Source: The Fellowship Service Manual of Co-Dependents Anonymous Combined Approved 2019, Part 5 Page 11 Last revision: 10/21/19

Finance Committee Responsibilities: 1. 2. Calculate and report our prudent reserve to the Fellowship at the annual Service Conference. We may report it at other times of year if needed. Annually review proposed budgets submitted by committees, boards, & Fellowship Services. • The committee considers whether or not Co. DA’s income supports the budget requests and allows for our prudent reserve* while integrating the requests into one overall budget. • Provide input to the CSC related to the financial implications of proposals under discussion and suggest options, as prudence requires. • The Finance Committee makes the motion to approve the overall budget to voting members at CSC. Apprise the Co. DA Board and Fellowship of changing financial circumstances, which might require budgetary adjustments between Co. DA Service Conferences. 3. 4. 5. Review expense reports submitted by committee & board members for adherence to Co. DA’s Expense Reimbursement Policy. Review Co. DA's investments for adherence to Conference approved policy. Review the Expense Reimbursement Policies and Procedures and propose amendments when needed. Source: The Fellowship Service Manual of Co-Dependents Anonymous Combined Approved 2019, Part 5 Page 11 Last revision: 10/21/19

1. Prudent Reserve Calculation "Prudent reserve equals $250, 000 or equal to half of the total actual operational expenses for the previous two calendar years, whichever is greater. " $235, 830. 54 (2019 incl. translators & website) $175, 418. 44 (2018) ------$411, 248. 98 combined ÷ 2 ------$205, 624. 49 half the combined $250, 000 is the prudent reserve for 2020

2. Annual Review of Proposed Budgets Year 2020 Approved 2020 Budget Total Income Budget 1 H 2020 Actual 1 H 2020 $257, 300 $128, 650 $87, 487 Outside Services & other expenses $168, 386 $84, 193 $50, 215 Board/Committee Face to Face (F 2 F) $56, 461 $10, 022 $4, 208 Co. DA Service Conference (CSC) $52, 314 $2, 132 $2, 807 $1, 650 $0. 00 Total Expenses $278, 811 $96, 347 $57, 230 Gain (Loss) (21, 511) $32, 303 $30, 257 Expenses Changes due to motions passed We are spending below our income (32% income drop vs 40. 6% expense drop)

3 b. Review Expense Reports (12 months) • • • 54 number of expense reimbursement requests submitted 21 requests accepted as is 27 requests accepted with modifications 4 requests rejected or withdrawn 2 waiting for further action Average time for reimbursement is 35 days • Requesting 1 amendment (co-sponsor of IMC Motion): 1. Travel and Host grants are requested & approved; however, tracking of those grant awards and their use are not currently part of the ERR system

4. Review Co. DA Investments "The goal for the management and investment of Co. DA funds is the preservation of capital. Earning interest income is secondary. Co. DA funds may be invested in the following financial instruments as indicated: 1. Money Market Account 2. Certificate of Deposit with staggered maturities no longer than 5 years. 3. USA Treasury Bills or USA Treasury Notes with staggered maturities no longer than 5 years 4. No investment in any single account shall exceed the maximum insured limits. " We have $411, 324 in CASH, which loses ~$8, 000/yr (2%) to inflation

5. Review the Expense Reimbursement Policy • 170+ hours of Finance Committee work • 27 changes to the policy • Review by Committee Chairs (once) and Board (twice) • Approved on May 5 th, 2020 by the Board • We are also implementing 3 procedural changes: 1. Requesting use of a Co. DA approved travel agency 2. Future ERR discrepancies less than $5 be resolved at $5 3. Withholding all tax & tip if alcohol total (including tax & tip) is not removed from expenses Many thanks to all those involved for such a successful revision!

2021 Goals 1. Prudent Budgeting & Investing a) b) c) d) Facilitate the 2021 Budget assuming 7 th Tradition income will be 65% of 2019 income Advise Co. DA Board to invest $10 K on IT consultants to make it very easy to collect 7 th Tradition donations without glitches (Pay. Pal, Venmo, Zelle, etc. ) Advise Co. DA Board to invest $30 K in social media "attraction campaigns" to reach the still suffering ( and to increase income). Advise Co. RE Board to create more audio and video for sale (to increase income). 2. Financial Stability a) 3. Continue to monitor monthly income and monthly spending for Chairs & Board Monetary Resources b) c) Hire an Outside Investment Professional for investment advice on "buying power preservation" Create a 2022 "buying power preservation" motion to maintain buying power despite inflation.